IFC Ramps Up Middle Market Program for Pioneer Leasing Brokers

For more info, contact:

Brian Cascarano
Vice President
(847) 663-6700

bcascarano@
ifccredit.com
IFC is ramping up its middle market program for Pioneer brokers, removing barriers and giving brokers increased access to IFC’s considerable funding capabilities for transactions over $250,000, and up to $25 million.
Pioneer’s network of over 450 brokers gained access to IFC as a funding source when IFC acquired Pioneer Capital Corporation in 2004. Now, that access has been improved.
IFC has added additional personnel to assist in middle-market broker referrals, providing Pioneer with faster responses to inquiries, participation in association meetings, and joint advertising and mailings to highlight middle-market offerings.
For brokers, knowing when IFC is the best fit for a middle-market transaction can prove to be an invaluable resource, and is instrumental in getting a difficult deal signed.
In the middle-market space, IFC’s expertise lends itself well to businesses which have a history of profitability, but because of leverage issues or an explainable business problem in recent years, have fallen under increased scrutiny from traditional lenders. Companies needing a specialized lease structure are also well served by IFC. Typically, all these companies are looking to acquire revenue-generating and/or cost-saving equipment.
Take, for example, a recent funding of a Fortune 1000 packaging supplier. The company, which is highly leveraged, needed a lease which provided 13 separate schedules to be signed by 13 different division managers. Due in part to the lessees leverage situation, and because the collateral under this lease was not easily re-marketable, other companies declined to create the lease structure the company needed.
IFC has a legal staff in house, and is perfectly suited to create structured transactions such as this. The equipment leased would generate revenue, and the company was in the process of turning around some past troubles. In a short time, where other leasing companies had declined, IFC created a highly structured lease that satisfied the needs of the parent company as well as its divisional managers.
In situations like these, utilizing IFC’s middle-market funding capabilities through Pioneer is an ideal fit.
John Boettigheimer, President of Pioneer Capital, summed the relationship:
“Brokers don’t run into these type of deals all too often, so sometimes they don’t have a working relationship with middle-market companies. By coming to Pioneer and IFC, they are using a company they are working with and can trust. It’s a good situation that serves both of our goals.”